(Alliance News) - Marketing software firm Pelatro PLC on Wednesday said 2019 earnings will be in line with expectations.
The company recently shifted its focus to securing recurring revenue as opposed to one-off contracts.
Pelatro added that "repeating income" will, at USD4.0 million, account for two-thirds of its total revenue for the period.
For 2019, both revenue and earnings before interest, taxes, depreciation and amortisation are expected to meet board expectations.
Pelatro added: "The group continues to show strong commercial momentum, evidenced by recent contract wins, and now has 19 customers with fully operational software, of which five were won in 2019. The latest contract, announced on December 2 with one of the largest global telcos in the world, is in implementation phase along with two existing customers where additional products are under implementation.
"The group's pipeline remains strong at about USD16 million of which about USD6 million is from existing customers."
The contract, with one of the largest telecommunications firms in the world, lasts for an initial five years, with an expected revenue over the period of between USD10 million and USD12 million, Pelatro said in December.
Shares in the company were 6.6% higher at 66.10 pence each in London on Wednesday afternoon.
By Eric Cunha; ericcunha@alliancenews.com
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